75th OREGON LEGISLATIVE ASSEMBLY--2009 Regular Session
 
SA to SB 701
 
LC 1623/SB 701-1
 
                      SENATE AMENDMENTS TO
                         SENATE BILL 701
 
        By COMMITTEE ON HEALTH CARE AND VETERANS' AFFAIRS
 
                              May 5
 
  On page 1 of the printed bill, line 2, after the semicolon
delete the rest of the line and delete line 3 and insert '
creating new provisions; amending ORS 348.570; and appropriating
money.'.
  Delete lines 5 through 31 and delete page 2 and insert:
  '  { +  SECTION 1. + }  { + As used in sections 2 and 3 of this
2009 Act:
  ' (1) 'Nurse' means any person who is licensed under ORS
678.010 to 678.410 as a registered nurse.
  ' (2) 'Qualifying loan' means any loan made to a nursing
student under:
  ' (a) Programs under Title IV, parts B, D and E, of the Higher
Education Act of 1965, as amended; or
  ' (b) The Nursing Student Loan and Health Education Assistance
Loan programs administered by the United States Department of
Health and Human Services. + }
  '  { +  SECTION 2. + }  { + (1) There is created the Nursing
Faculty Loan Repayment Program, to be administered by the Oregon
Student Assistance Commission. The purpose of the program is to
provide loan repayments on behalf of nurse educators at nursing
schools in Oregon who have earned a master's or doctoral degree
from an accredited nursing education program.
  ' (2) The commission shall by rule adopt, in consultation with
the Oregon State Board of Nursing and the Oregon Center for
Nursing, criteria for participation in the Nursing Faculty Loan
Repayment Program. + }
  '  { +  SECTION 3. + }  { + (1) To be eligible to participate
in the Nursing Faculty Loan Repayment Program, a nurse educator
or prospective nurse educator shall submit a letter of interest
to the Oregon Student Assistance Commission.
  ' (2) At the end of each school year in which a nurse practices
as a nurse educator in Oregon, the commission shall pay an amount
not to exceed the lesser of 20 percent of the total of the
nurse's outstanding qualifying loans or $10,000 as adjusted under
subsection (4) of this section.
  ' (3) The commission may make the annual payments under this
section for up to:
  ' (a) Three years for a nurse educator who has earned a
master's degree; or
  ' (b) Five years for a nurse educator who has earned a doctoral
degree.
  ' (4)(a) The commission shall adjust annually the maximum
dollar amount allowed under subsection (2) of this section by
multiplying that amount by a cost-of-living adjustment as
specified in this subsection.
  ' (b) The cost-of-living adjustment applied to the maximum
dollar amount allowed under subsection (2) of this section shall
be equal to the ratio of the seasonally adjusted United States
City Average Consumer Price Index for All Urban Consumers as
published by the Bureau of Labor Statistics of the United States
Department of Labor for April of that calendar year divided by
the value of the same index for April 2009.
  ' (c) If the value of the dollar amount determined under
paragraph (a) of this subsection is not a multiple of $100, the
commission shall round the dollar amount to the next lower
multiple of $100. + } ' .
  On page 3, lines 13 through 23, restore the bracketed material.
  In line 23, delete 'the next biennium' and insert ' subsequent
biennia'.
  In line 24, restore the bracketed material and delete the
boldfaced material.
  In line 30, restore the bracketed material and delete the
boldfaced material.
  After line 35, insert:
  ' (6)(a) There is established in the State Treasury the Nursing
Faculty Loan Repayment Fund, separate and distinct from the
General Fund. Interest earned on the Nursing Faculty Loan
Repayment Fund shall be credited to the fund. Moneys in the fund
are continuously appropriated to the Oregon Student Assistance
Commission for carrying out sections 1 to 3 of this 2009 Act. The
Nursing Faculty Loan Repayment Fund consists of:
  ' (A) Moneys appropriated to the commission for the Nursing
Faculty Loan Repayment Program created in section 2 of this 2009
Act; and
  ' (B) Grants, gifts or donations received by the commission for
the program.
  ' (b) Any unexpended funds in the fund at the end of a biennium
shall be retained in the fund and may be expended in subsequent
biennia.'.
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